Crypto bill 'circulating secretly' could be 'boon' for DeFi
Crypto bill that industry advocates say would 'kill DeFi' has seen updated draft released online, with one commenter saying the United States is "finally getting its act together."
New
A new Digital Products Consumer Protection Act (DCCPA) bill has started circulating online, with comments suggesting it could be positive for decentralized finance (DeFi) and crypto.
An earlier version of the bill drew strong criticism from industry representative bodies for containing an overly broad definition of a "digital product platform", which "could be construed as a ban on decentralized finance (DeFi).
In a 31-page bill recently released and shared by Delphi Labs General Counsel Gabriel Shapiro, the attorney said he made the bill publicly available because he believes in " transparency and open discussion".
Shapiro pointed out a section changing the meaning of a "digital commodities trading facility" that excluded people who develop or release software, commenting that it "could be a boon" to DeFi and crypto.
Notably, this version contains a limited exception to the term "digital commodity trading system" which would exclude people who only develop or publish software - this could be a boon for DeFi/crypto. pic.twitter.com/0pa843RJ9h
— _gabrielShapir0 (@lex_node) October 19, 2022Martin Hiesboeck, Head of Research at UpHold, tweeted that the recently released project appears to follow similar regulations in the European Union and the United Kingdom, suggesting that the United States is "finally...
Crypto bill that industry advocates say would 'kill DeFi' has seen updated draft released online, with one commenter saying the United States is "finally getting its act together."
New
A new Digital Products Consumer Protection Act (DCCPA) bill has started circulating online, with comments suggesting it could be positive for decentralized finance (DeFi) and crypto.
An earlier version of the bill drew strong criticism from industry representative bodies for containing an overly broad definition of a "digital product platform", which "could be construed as a ban on decentralized finance (DeFi).
In a 31-page bill recently released and shared by Delphi Labs General Counsel Gabriel Shapiro, the attorney said he made the bill publicly available because he believes in " transparency and open discussion".
Shapiro pointed out a section changing the meaning of a "digital commodities trading facility" that excluded people who develop or release software, commenting that it "could be a boon" to DeFi and crypto.
Notably, this version contains a limited exception to the term "digital commodity trading system" which would exclude people who only develop or publish software - this could be a boon for DeFi/crypto. pic.twitter.com/0pa843RJ9h
— _gabrielShapir0 (@lex_node) October 19, 2022Martin Hiesboeck, Head of Research at UpHold, tweeted that the recently released project appears to follow similar regulations in the European Union and the United Kingdom, suggesting that the United States is "finally...
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